OMV Petrom reports 57% decline in quarterly profit [Yahoo! Finance]
OMV AG BEARER SHS S/ADR (OMVKY)
NASDAQ:AMEX Investor Relations:
omvpetrom.com/portal/01/petromcom/petromcom/omv_petrom/investor_relations/omv-petrom-shares-gdrs/shareholding-and-stock-listing-history/!ut/p/b0/04_sj9cpykssy0xplmnmz0vmafgjzoin_e0tar0cny1cddw9pxw93hwndsbapzg1t78g21erac3xr1e!
Company Research
Source: Yahoo! Finance
GlobalData Wed, February 5, 2025 at 1:31 PM GMT+1 1 min read Romanian oil and gas company OMV Petrom has reported a 57% decline in its fourth-quarter adjusted operating profit, attributed to regulatory impacts on gas and power, and weaker commodity prices. The company, majority-owned by Austria's OMV, faced lower oil prices, reduced sales volumes, and declining refining and sales margins. OMV Petrom plans to invest approximately 8bn lei this year, primarily in the Neptun Deep Black Sea offshore gas project and renewable power initiatives. This follows a 52% increase in investment to 7.2bn lei in 2024, contingent on a stable and competitive fiscal and regulatory framework. The company's adjusted operating profit fell to 955m lei from 2.24bn lei in the same period the previous year. The clean operating result, based on the current cost of supply, excludes one-off items and short-term gains and losses from energy inventory holdings. A turnover tax introduced in 2024 is
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- OMV (OTCMKTS:OMVKY) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating.MarketBeat
- OMV (OTCMKTS:OMVKY) had its "underweight" rating reaffirmed by analysts at Barclays PLC.MarketBeat
- OMV (OTCMKTS:OMVKY) was downgraded by analysts at Berenberg Bank from a "strong-buy" rating to a "hold" rating.MarketBeat
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